Orbital ATK reports reduced sales in defense group

Orbital ATK said today sales in its most recent quarter declined slightly, when adjusted for last year's merger between Orbital Sciences and ATK's aerospace and defense groups.

"From a financial standpoint, Orbital ATK reported somewhat mixed results for the first quarter," Dave Thompson, the contractor's chief executive, said during a morning call with analysts.

Total adjusted quarterly revenues were just shy of $1.1 billion, down nearly 5 percent from the same three-month period a year earlier. That decline was driven by a $65 million reduction in defense systems sales, the company said.

Quarterly adjusted profit rose to about $77 million, up from $67 million the prior year. The company said it was buoyed by improved profit in its flight systems and space systems groups, but the defense systems unit reported an $11.9 million decrease in profit.